MetLife's Operating Profit Rises 4.9% -- 2nd Update

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By Leslie Scism Rivals MetLife Inc. and Prudential Financial Inc. posted increases in first-quarter operating profit, even as the life-insurance industry continues to wrestle with ultralow interest rates. MetLife, the U.S.'s largest life insurer by assets with a large international ...

IMF Sees Risks for Asia-Pacific

TODAY: May 7, 2015 PUB DATE: May 7, 2015

BEIJING--Rising debts, a stronger dollar and weaker-than-expected performances from China and Japan pose increasing risks to the broader Asia-Pacific region, even as it looks likely to remain the world's fastest-growing, the International Monetary Fund said. The Asia-Pacific region is likely ...

Siemens Profit Boosted by Asset Sale

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By Christopher Alessi MUNICH--German engineering giant Siemens AG reported a surge in net profit for the second quarter of 2015, driven largely by gains it booked from the sale of its stake in a household appliances joint venture with Robert ...

Siemens Profit Boosted by Asset Sale

TODAY: May 7, 2015 PUB DATE: May 7, 2015

MUNICH--German engineering giant Siemens AG reported a surge in net profit for the second quarter of 2015, driven largely by gains it booked from the sale of its stake in a household appliances joint venture with Robert Bosch GmbH and ...

French Trade Deficit Widens in March

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By Inti Landauro PARIS--France's trade deficit widened in March from February as oil imports increased in volume and price, the country's customs office said Thursday. The eurozone's second-largest economy recorded a 4.6 billion euro ($5.24 billion) trade deficit in March ...

Swiss Central Bank Forex Reserves Fall in April

TODAY: May 7, 2015 PUB DATE: May 7, 2015

ZURICH--The value of Switzerland's foreign-currency reserves dropped by half a billion Swiss francs in April, data showed Thursday, largely because of the weakness of the dollar, said analysts. Foreign currency reserves edged down to 521.9 billion Swiss francs ($570.8 billion) ...

Alfa, Harbour Energy to Bid for Pacific Rubiales Energy -- Update

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By Anthony Harrup Mexican conglomerate Alfa's planned purchase of Canadian-Colombian oil company Pacific Rubiales Energy Corp. extends a welcome lifeline to a company hard hit by the plunge in world oil prices, while promising to bring experience for a buyer ...

FTC, Sysco Face Off in Federal Court Hearing

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By Brent Kendall WASHINGTON--The Federal Trade Commission in court proceedings Wednesday sought to build its case against the merger of food distribution rivals Sysco Corp. and US Foods Inc. by arguing that the next-largest industry competitor can't replace competition being ...

Australia's Job Market Weakens

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By James Glynn SYDNEY--Australia's unemployment rate rose to a seasonally adjusted 6.2% in April from March, as the number of people in full-time work droppped sharply. The new jobless rate, up from 6.1%, was in line with what economists had ...

Siemens Profit Boosted by Asset Sales--Update

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By Christopher Alessi MUNICH--German engineering giant Siemens AG reported a surge in net profit in the three months to end March, driven largely by gains it booked from the sale of its stake in a household-appliances joint venture with Robert ...

Thailand's Consumer Sentiment Weakens to 10-Month Low in April

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By Nopparat Chaichalearmmongkol BANGKOK--Thailand's consumer sentiment fell to a 10-month low in April, the latest official data to indicate weak economic conditions in the first three months of this year. Thailand's consumer-confidence index slipped to 76.6 in April, compared with ...

French Industrial Production Contracts 0.3% in March

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By Inti Landauro PARIS--French industrial production contracted 0.3% in March compared with February, as declines in the production of energy and water offset gains in other industries, statistics agency Insee said Thursday. The data was slightly lower than the 0.2% ...

Swiss Consumer Confidence Stagnates in 2nd Quarter

TODAY: May 7, 2015 PUB DATE: May 7, 2015

ZURICH--An index measuring the confidence of Swiss consumers was unchanged in the second quarter, reflecting concern about the strong Swiss franc's impact on the economy, according to a survey released Thursday. The quarterly Swiss Consumer Sentiment Index was at minus ...

Siemens to Slash a Further 4,500 Jobs -- Update

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By Christopher Alessi MUNICH--German engineering giant Siemens AG announced on Thursday an additional 4,500 job cuts world-wide, targeting its embattled power and gas division and a group of underperforming businesses it hopes to turn around. The new cuts--roughly 2,200 of ...

U.S. Steel CEO Says Tariffs Could Be Needed On Chinese Imports

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By John W. Miller NEW YORK-- U.S. Steel Corp. and the ailing American steel industry might need tariffs on Chinese-made steel in order to survive, Chief Executive Mario Longhi said in an interview. "Assume nothing happens, it could put at ...

U.S. Steel CEO Says Tariffs Could Be Needed on Chinese Imports

TODAY: May 7, 2015 PUB DATE: May 7, 2015

NEW YORK-- U.S. Steel Corp. and the ailing American steel industry might need tariffs on Chinese-made steel in order to survive, Chief Executive Mario Longhi said in an interview. "Assume nothing happens, it could put at risk the existence of ...

Tesla Buys Michigan Auto-Parts Maker

TODAY: May 7, 2015 PUB DATE: May 7, 2015

Tesla Motors Inc. has agreed to buy a Michigan auto-parts maker, Riviera Tool, for an undisclosed amount. The Grand Rapids, Mich. company makes stamping-die systems used to create body panels. Tesla confirmed the agreement to buy the company after a ...

Crude Oil Futures Slip in Asia on Supply Concerns

TODAY: May 7, 2015 PUB DATE: May 7, 2015

By Biman Mukherji HONG KONG--Crude oil futures slipped in Asian trade Thursday amid concerns of higher supply as well as cautious ahead of U.S. non-farm payroll data which could have a bearing on the timing of U.S. interest rate increases. ...